Kondux Web3 Technologies Lab

Jan 6 AMA Recap

  1. What financial runway do the team have to keep building? 

We are working out of tenacity at this, in this bear market obviously trades are not as much as they used to be but the team is dedicated to finishing this project no matter what happens. Unfortunately one of our team members did sell a small portion of their coins due to a financial hardship but the rest of the team is holding strong to their team tokens.

  1. What are the teams key deliverables for the next 3/6/12/60 months? 
  • 3: Staking release, Emission Token, kNFT Release, 3d Viewport for kNFT
  • 6: Omniverse V1 plugin for viewing kNFT: Founders Pass owners will have beta access. Marketplace V1-buy-sell-bid
  • 12: Small Game
  1. We were told last year that kNFTs were ready to go and would be released imminently. What is the hold up? 

The market, the hack, we are refining the assets, we can release them in the current state but there will be some glitches in how the assets interact. The kNFTs are currently being polished off. We took time from the hack to refine the kNFT assets to provide the best quality kNFTS.

  1. We were told two months ago that staking was almost ready to be released. How far away is it now? 

Well two months ago exactly was when our liquidity was stolen, and we had to divert all team attention to resolving and correcting this issue. Staking is currently being tested every day. This is not a copy and paste staking contract. It is built with the intention to be future proof and include the emission token as well. Because of testing and glitches in the complex contract we’ve had to push back the release of staking. We are currently working on version 4 of the staking contract but hope to release this features before the end of the month.

  1. How do the team plan to build up a community of supporters of the project? Whilst discord numbers are increasing, these are almost entirely collab whitelist winners who won’t actually bother to mint anyway.

It’s a hard assumption to say that these folks will not mint their NFT. Building communities through collab whitelist projects is something every NFT project does and without this method we can’t get numbers to mint the NFT in the first place. This is an essential part of selling NFTs. We’ve tried many different strategies to market and grow the community, but with crypto and NFT sentiment getting worse in the public eye this has been an uphill battle. We’re still scheduling many AMA’s in the coming weeks as well with other NFT projects. We’ve tried many different options in marketing the past few months and think we’ve landed on a formula that will benefit our Twitter and all marketing campaigns.

  1. Will the team commit to improving communication with a twice monthly written dev report/newsletter? This would report what progress is being made towards agreed deliverables and justifying delays i.e. prove that they value the community and are prepared to be held accountable by them even if it’s uncomfortable. 

The team will and has committed to giving information on notice whenever there are any new developments made. Some folks prefer news in every day tweets while others prefer weekly. People in the community have different ways of receiving information and it’s impossible to make everybody happy 100% of the time, but if this is another form of communication we can offer we will certainly do so.

  1. Can community get written clarification of what wallets hold which funds, including team wallets and tax wallet? This should include which tokens are locked, any vesting schedules and how many tokens are available to the team to sell at any time. This is requested to ensure full transparency from the team and let holders know that the team are in it for the long haul.

Our marketing and dev wallets have not changed. This information will once again be public when the correct information is updated on Coingecko.

  1. Following the above, can a monthly expense report be published showing what any token sells have been used for, and what expenses team have had to cover. This could be a simple document showing $x for development costs, $x for hardware, $x for audits etc. This would allow community to see the financials from the teams side and help them hold their investments more comfortably during market down turns.

No, this can result in insider trading. Unfortunately we have to find a good balance of transparency and privacy and this is where that line is drawn.

  1. Why MC still wrong on CG and CMC and Dex’s.

We’ve made multiple inquiries to Coingecko to fix the market cap. The day of the last migration and also multiple other inquiries but are still having a hard time getting our profile updated.

In Summary:

We’re still hard at work with staking and the kNFT as the highest priority to be released in the next couple of months. We will let everyone know as soon as our staking contract has been submitted for audit.

Don’t Stop Here

More To Explore

Kondux Founder Pass NFT

Kondux Founder Pass NFT

Kondux Founder Pass NFT MINT HERE NOW! As an owner of the KONDUX FOUNDER PASS NFT you will receive a series of exclusive benefits within the $KNDX ecosystem.